On Wednesday, the head of growth at Loopring, Adam Browman, announced that the recently teased Gamestop NFT marketplace has launched its beta version using Loopring’s layer two (L2) technology. Browman says that with Gamestop’s new NFT marketplace leveraging Loopring’s ZK-rollup technology, the platform “inherits Ethereum’s self-custodial security while abstracting away costly gas-fees, leaving no one priced out.”
Gamestop Unveils NFT Marketplace Built With Loopring’s L2 Technology
Over the past few months, video game retail giant Gamestop has hinted at the launch of a non-fungible token (NFT) marketplace. Last month, Gamestop revealed a partnership with Immutable X and revealed a $100 million NFT fund. According to the Ethereum L2 Loopring project team, the beta version of Gamestop’s NFT Marketplace called beta.nft.gamestop.com is now live. The announcement was revealed by Loopring’s head of growth, Adam Browman, on March 23. Browman’s blog announcement reads:
[With the new marketplace] built atop Loopring L2, ensures that users receive the strongest digital property rights anchored by a secure, decentralized and credibly neutral environment like Ethereum.
Browman further noted that users can quickly access the website and create a username and profile. Additionally, Loopring’s growth manager noted that users can also “make deposits and prepare for the full official market launch coming soon.”
“We believe that today marks an important inflection point for the entire NFT space, and we are excited to be a part of what’s to come,” Browman added.
Loopring speculation comes to fruition
Meanwhile, statistics from March 23 show that the median fee for transacting with Ethereum (ETH) is $2.15 per transaction, according to l2fees.info. The Onchain Ethereum network fee to trade a token today is around $10.74 per transaction. Loopring, on the other hand, is one of the cheapest L2 methods to send Ether, as it currently costs $0.07 per transaction to use Loopring according to l2fees.info. Trading a token with Loopring costs $0.75, which is 93.01% cheaper than the average $10.74 data transfer fee to trade coins on-chain.
There was a lot of speculation that Gamestop would be working with Loopring at the end of November, 2021. At the time, a Canadian reporter asked Loopring’s CEO Daniel Wang about the Gamestop speculation. After the reporter told Wang that there’s been “a lot of rumors about a potential partnership with Gamestop” and then asked the CEO if the “potential deal” was legitimate, Wang replied:
I can’t comment on that.
